A sort of sector rotation of layoffs, and it’s not a good sign, even as millions of lower-wage workers are being hired back (transcript of my podcast).
For automakers, this was a tough market before the Pandemic: decades of stagnation in unit sales, carved up by more competitors, with industry revenue growth by jacking up prices. Then came the Pandemic.
Insiders front-run the announcement. Locust-swarms of Robinhood traders pile on top. Taxpayers brace themselves. Shaking my head while holding my nose.
